#regulatory-compliance-fee

My 'broker' is asking for a 'regulatory compliance fee' to release funds. Is this common practice or a scam?

Hi everyone, I'm really worried. I've been trading with an online platform I found through an ad, they don't seem to be regulated by MAS or anything similar here in Singapore. I put in about 5k SGD over a few months and actually saw some decent 'profits' in my account, or so I thought. When I tried to withdraw a few hundred last week, they said I needed to pay a 'regulatory compliance fee' first, something like 10% of my total account balance, before any withdrawals can be processed. They're saying it's to meet international anti-money laundering standards. This sounds super fishy to me. I've never heard of this before from a real broker. My gut is telling me it's a scam, but part of me is holding onto hope. Has anyone encountered this specific fee? Is this a new thing or am I just getting played?